Reuters UK Business Archives - Page 720 of 3179

Rheinmetall wins ammunition order worth several hundred million euros

3 Jul 2025 3 Jul 2025

(Reuters) -German defence contractor Rheinmetall’s subsidiary Denel Munition signed a multi-year contract for the delivery of 155mm projectiles for a European NATO country, the company said on Thursday. The order, the largest in the history of Rheinmetall Denel Munitions, is worth several hundred million euros, according to the company. “Deliveries will begin in 2025 and …

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French and Spanish operators create venture to develop hydrogen pipeline

3 Jul 2025 3 Jul 2025

By America Hernandez PARIS (Reuters) -French gas grid operator Natran, a unit of utility Engie, has created a joint venture to develop a cross-border hydrogen pipeline with French storage operator Terega and Spain’s Enagas, it said on Thursday. The Barcelona-to-Marseille underwater pipeline, or Barmar, is part of a larger 2.5 billion euro ($2.93 billion) project called …

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Uniper to cut 400 jobs over ‘challenging’ market environment

3 Jul 2025 3 Jul 2025

FRANKFURT (Reuters) -German state-owned utility Uniper on Thursday said it was planning to cut 400 jobs, or around 5% of its staff, citing a challenging energy market environment that includes falling wholesale power prices. Citing “challenging market developments and regulatory delays”, Uniper also said it would look for other ways to cut costs to safeguard …

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French sugar company Tereos seeks to expand power business in Brazil

3 Jul 2025 3 Jul 2025

By Leticia Fucuchima SAO PAULO (Reuters) -French sugar maker Tereos plans to expand the client base for its power contract sales in Brazil by tenfold within two years, aiming for over 1,000 corporate customers, an executive told Reuters. Samuel Custodio, head of power commercialisation for Tereos in Brazil, said the growth will be driven by …

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French fintech Qonto seeks banking license as it targets 2 million clients by 2030

3 Jul 2025 3 Jul 2025

(Reuters) -French fintech Qonto has applied for a banking license with France’s banking regulator as it seeks to expand beyond payment services to offer lending, savings and investment products, it said on Thursday. The company, which provides digital banking and financial management tools for small and medium-sized businesses, said it serves more than 600,000 business …

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ECB wary of rising global trade uncertainty, June accounts show

3 Jul 2025 3 Jul 2025

By Marc Jones and Yoruk Bahceli (Reuters) -Euro zone policymakers cut rates last month to prevent an unwarranted tightening of monetary conditions in the face of the elevated uncertainty around global trade, the accounts of their June 3-5 meeting showed on Thursday. The ECB cut interest rates for the eighth time in a year last …

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Freight shipping on Mosel river in Germany blocked after accident

3 Jul 2025 3 Jul 2025

HAMBURG (Reuters) -Freight shipping on the river Mosel in west Germany has been blocked to shipping after an accident involving a passenger ship that damaged a lock, authorities said on Thursday. The river, known as the Moselle in France, is an important transit route for grains and rapeseed between Germany and France. Transit was halted …

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UK’s Reeves says she is getting on with her ‘tough’ job

3 Jul 2025 3 Jul 2025

By Muvija M and Alistair Smout LONDON (Reuters) -British finance minister Rachel Reeves said on Thursday that she was determined to get on with her job despite its tough moments, a day after she appeared in tears in parliament, sparking fears about her future in the job and triggering a market selloff. Smiling and looking …

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Analysis-UK markets head back into troubled waters as fiscal angst rises

3 Jul 2025 3 Jul 2025

By Linda Pasquini (Reuters) -A string of policy U-turns has blown a hole in the UK government’s budget plans, bringing sterling’s stellar run against the dollar and a period of stability in UK bond markets to a halt and prompting analysts to predict more weakness ahead. UK gilts suffered their biggest one-day selloff since April’s …

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Poland’s JSW renews bid for $444 million tax refund amid liquidity squeeze

3 Jul 2025 3 Jul 2025

GDANSK (Reuters) -Polish state-controlled coal miner JSW renewed on Thursday its request for a 1.6 billion zloty ($443.6 million) refund of the “solidarity levy”, a windfall tax on excess profits, as it faces mounting losses and a liquidity crunch. JSW argues that the retroactive tax on income, which it paid during 2023 and 2024, violates …

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